Lithuania Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in lithuania, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Trade Financing
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Various payment methods are possible in Lithuania. The most popular of those include wire transfers as pre-payment or after-payment, letters of credit, or payment by credit card. Checks are not common as a payment method and are rarely accepted.  For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.   

Banking System: 

There are a number of active commercial banks, branches of foreign banks, and specialized banks. The sector is highly concentrated, with five banks holding over 90% of the market share. Swedish and other Nordic financial groups have a strong foothold in the market and are the dominant players, with Swedbank and SEB Bankas being the two largest banks.  Several Lithuanian-owned banks and specialized banks also operate, often focusing on niche markets or small and medium-sized enterprises. Lithuania’s progressive regulations have attracted numerous financial technology companies, including digital-first banks like Revolut.  

The Bank of Lithuania acts as the central monetary authority in the country.  It oversees financial institutions and banks in Lithuania, formulates and implements monetary policy, maintains price stability, and issues the national currency.  Currently, 85 credit institutions operate in Lithuania, comprising six banks in Lithuania, seven branches of foreign banks, and 71 credit unions. Top banks in Lithuania include: Swedbank, Luminor, SEB, Artea, Citadele Bankas, and Urbo Bankas. Credit guarantees from U.S. EXIM Bank are available for projects in Lithuania.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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